IOC plans to double refining capacity

State-owned Indian Oil Corporation (IOC) plans to nearly double oil refining capacity to 150 mt by 2030, and source 10% of the need from its own assets, said Chairman Sanjiv Singh.

India’s largest oil firm possesses refining capacity to produce 80.7 million tonnes (mt) per annum of fuel.

“In line with India’s aspirations to become a refining hub, IOC plans to raise its refining capacity from the current 80.7 million tonnes per annum (mtpa) to around 150 mtpa by 2030, through both brownfield expansions and greenfield capacity creation,” he said. These include a 60 mt integrated refinery-cum-petrochemical project on the west coast IOC is implementing with BPCL and HPCL at a cost of Rs 2.7 lakh crore.